Godavari Biorefineries Limited announced its financial results for the quarter and nine months ended December 31, 2025, demonstrating strong operational performance driven by operating leverage and improved margins. The bio-based specialty chemicals pioneer reported total income of Rs. 461.9 crore for Q3FY26, marking a 2.5% year-on-year growth.

Strong Financial Performance in Q3FY26

The company delivered impressive profitability improvements across key metrics during the quarter. EBITDA grew 13.8% year-on-year to Rs. 45.1 crore, while PBT before exceptional items surged 152.2% to Rs. 21.4 crore, showcasing effective operational execution.

The company's margin expansion reflects its strategic focus on high-margin segments, with EBITDA margin improving to 9.8% from 8.8% in the previous year and PBT margin rising significantly to 4.6% from 1.9%.

Segment-wise Performance Analysis

The Bio-based Chemicals segment emerged as a key growth driver, with EBITDA increasing 76.7% year-on-year to Rs. 10.9 crore in Q3FY26. The Sugar & Cogeneration segment also performed well, recording EBITDA growth of 28.1% to Rs. 32.1 crore. However, the Ethanol segment faced challenges with EBITDA declining 56.6% to Rs. 4.2 crore.

The revenue mix remained consistent with the previous year, with Sugar & Cogeneration contributing 39%, Bio-Based Chemicals 31%, Ethanol 29%, and Unallocated segments 1% of the total revenue from operations of Rs. 460 crore.

Strategic Expansion and Capacity Enhancement

The investor presentation highlighted significant strategic initiatives, including the upcoming commissioning of a 200 KLPD fungible grain/maize distillery in Q1 FY27. This expansion will add 60 million litres of ethanol capacity per annum, enhancing operational flexibility and supporting India's Ethanol Blending Initiative through feedstock diversification.

Earnings Conference Call Recording Available

On February 19, 2026, the company uploaded the audio recording of its earnings conference call for Q3 and 9M FY26 on its website, complying with Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The recording is accessible at the company's official website for stakeholder reference.

Innovation and Sustainability Initiatives

The investor presentation emphasized the company's commitment to green chemistry and sustainable innovation. Key highlights include revolutionary CO2 conversion technology that transforms industrial emissions into Dimethyl Ether (DME), supporting climate change mitigation efforts. Additionally, the company's drug discovery division, Sathgen Therapeutics LLC, was incorporated in the United States as a wholly-owned step-down subsidiary to pursue licensing partnerships for anti-cancer drug development.

Regulatory Compliance and Governance

Following SEBI regulations, the company published its Q3FY26 unaudited financial results in Financial Express newspapers on February 15, 2026. Verma Mehta & Associates, Chartered Accountants, conducted a limited review of the company's unaudited consolidated and standalone financial results for Q3FY26 under Regulation 33, confirming compliance with Indian Accounting Standard 34 "Interim Financial Reporting."

Godavari Biorefineries Ltd has received an order from the National Green Tribunal (NGT) Western Zone Bench, Pune, directing the company to implement water treatment measures at its Sakarwadi manufacturing facility. The company disclosed this development on February 09, 2026, in compliance with SEBI listing regulations.

NGT Order Details

The tribunal has directed the company to implement pending recommendations made by the Joint Committee of Maharashtra Pollution Control Board (MPCB) and Central Pollution Control Board (CPCB) along with the Ministry of Environment, Forest and Climate Change (MoEF&CC) in their report dated August 26, 2024.

Background of the Case

The NGT order stems from a complaint filed by Mr. Prasad Haribhau Jadhav, a resident of Wari village, on March 24, 2024. The complaint alleged water pollution and contamination of the Godavari river and surrounding water sources near the Sakarwadi manufacturing facility.

The specific allegations include:

• Discharge of hazardous chemicals to water bodies
• Contamination of air by emitting hazardous gases
• Impact on surrounding water sources

Implementation Requirements

The company must construct a trench of adequate size along the periphery of the bioremediation area. This measure aims to:

• Catch runoff water before it reaches the Godavari River
• Direct collected water to the industry site for proper treatment
• Ensure compliance with environmental protection standards

Financial and Operational Impact

Godavari Biorefineries has assessed the impact of the NGT order on its business operations:

The company has formally communicated that there is no material impact on its financials, operations, or other activities due to this order. The disclosure was made by Company Secretary and Compliance Officer Manoj Jain under his membership number F-7998, ensuring regulatory compliance with SEBI listing obligations.